The shift toward cloud-based software is perhaps one of the most defining technological movements of this decade, with applications from Google Apps and Dropbox to remote email access giving us the freedom to work from anywhere with an internet connection.

Accounting solutions are keeping pace, with Xero and MYOB the most popular options for easy cloud-based storage and access to your accounts. They not only offer information about the financial health of your business wherever you are, but provide Sullivan Dewing with live access to your accounts, so we can make real-time amendments and provide you with the information you need, fast.

A recent survey found that of the 77 percent of accounting firms who did not currently recommend cloud-based accounting software, 50 percent said they would be recommending it within two years.

So what’s holding you back? If your business accounts aren’t in the cloud, consider these benefits:

• They offer mobile apps which are compatible with smart phones and tablets, so you can access data and invoicing details on the go.
• Cloud-based accounting software allows you to see what everyone in your team is doing and encourages transparency.
• Xero and MYOB support direct feeds between your business bank account and your accounting system, for simple reconciliation.
• They provide an opportunity to improve business processes in real-time and react quickly to changing conditions.

Businesses are the clear winners of the cloud-based accounting revolution, with less need to focus on complicated software and more time to spend running your business.

As with any pair of competitors, there are differences in the product offering and prices of Xero and MYOB, so you’ll need to compare both to see which one is right for you.

Contact us for further information on how you can get your business in the cloud.